When eBay Inc. (NASDAQ: EBAY) reported its fourth-quarter financial results late on Wednesday, overall the results were fairly positive. That attracted the attention of quite a few analysts. Although the ratings might have been mixed among these analysts, across the board price targets went up.
24/7 Wall St. has included some brief highlights from the earnings report, as well as what analysts are saying after the fact.
The company posted $0.54 in earnings per share (EPS) and $2.4 billion in revenue, versus consensus estimates from Thomson Reuters of $0.54 in EPS and revenue of $2.4 billion. The same period of last year reportedly had EPS of $0.50 and $2.32 billion in revenue.
For the first quarter, eBay expects to see EPS in the range of $0.46 to $0.48 and revenues between $2.17 billion and $2.21 billion. The consensus estimates are $0.50 in EPS and $2.21 billion in revenue.
Credit Suisse has a Neutral rating with a $35 price target for eBay. The firm detailed in its report:
Our updated net revenue and adj. EPS projections for full year 2017 are now $9.46b/$2.06 versus prior $9.23/$2.09. … Our updated DCF-derived target, which uses a 12% weighted average cost of capital and 3% terminal growth rate is now $35 vs. prior $33.
Merrill Lynch reiterated a Buy rating with a $38 price objective. The firm commented:
In-line 4Q results, but outlook suggests structured data initiatives will drive growth acceleration in 2017. 2016 EPS was above initial guide, and we see several EPS upside drivers including structured data ramp, margins, and buybacks. Fundamentals appears to have stabilized, and we think stock is interesting as a 6-8% EPS grower with strong FCF.
A few other analysts weighed in as well:
- Canaccord Genuity has a Hold rating and raised the price target to $31 from $28.
- Citigroup raised its price target to $36 from $34.
- Cowen has a Market Perform rating and raised the target to $30 from $29.
- Goldman Sachs has a Buy rating and raised the price target from $36 to $38.
- JPMorgan has a Neutral rating and raised the price target to $34 from $31.
- RBC has a Sector Perform rating and raised the price target from $32 to $34.
Shares of eBay were last seen up 7.4% at $32.46, with a consensus analyst price target of $32.72 and a 52-week trading range of $21.52 to $33.19.
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